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Required information [The following information applies to the questions displayed below.] Refer to the following transactions. Sold 4,400 shares of $44 par value 7% preferred

Required information

[The following information applies to the questions displayed below.] Refer to the following transactions.

  1. Sold 4,400 shares of $44 par value 7% preferred stock at par.
  2. Declared the annual dividend on the preferred stock.
  3. Purchased 550 shares of preferred stock for the treasury at $53 per share.
  4. Issued 1,500 shares of $2 par value common stock in exchange for land valued at $116,000.
  5. Sold 262 shares of the treasury stock purchased in transaction c for $57 per share.
  6. Split the common stock 2-for-1.

Transaction Cash Other Assets Liabilities Paid-in Capital Retained Earnings Treasury Stock Net Income
a.
b.
c.
d.
e.
f.

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